Director, Operational and Fraud Risk Management

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The Work
The Director Operational and Fraud Risk oversees the 2nd line management of operational risk, fraud risk, change management risk and fiduciary risk across the Bank. Responsible to design, implement, provide training and awareness of these various programs and its related methodologies, systems, tools, and processes for ongoing evaluation across the Bank. Provides independent oversight and challenge of the effectiveness of the Bank’s operational risk, fraud, change and fiduciary risk management practices and monitors adherence to the Risk Appetite Framework.

Prepares consolidated quarterly committee reporting outlining both inherent and residual risks across all Non‑Financial Risks within the department.

Risk Governance & Oversight

Design and implement operational risk policies, guidelines and standards and a measurement methodology which is aligned with regulatory expectations and the Bank’s overall elected and targeted level of risk measurement maturity.

Ensure the periodic and timely review of operational, fraud, change management, and fiduciary risk related policies, management guidelines, risk frameworks, risk appetite, processes and controls as business and regulatory conditions may require.

Provide insights and recommendations in strategy development of the future growth and maturity of the Bank.

Oversee and integrate related risks such as culture risk, integrity and security, climate risk, or other regulations as required.

Ensure common methodologies and frameworks are built and used across risk and compliance.

Operational Risk Management

Guide the Risk and Control Self‑Assessment (RCSA) process for all significant business activities and lines of business, assessing and challenging the inherent and residual risk.

Develop and implement Key Risk Indicator (KRI) frameworks, measures and reporting tools in collaboration with business. Evaluating results against risk appetite framework to identify potential actions or changes.

Own the New Initiative Risk Assessment (NIRA) process and the New Initiative Approval Process (NIAP) for new initiatives to properly assess and mitigate high inherent risks and ensure residual risks are acceptable and within the Bank’s risk tolerance levels.

Ensure the development, administration and maintenance of the Bank’s Governance, Risk Management and Compliance (GRC) tool (Resolver) continues to meet the requirements of an Operational Risk Management program.

Develop and deliver training supporting the various programs for team and Bank employees.

Climate Risk Oversight

Provide oversight over climate‑related risk management programs and activities throughout the Bank.

Fraud Risk Management and Oversight

Build a 2nd line Fraud Risk Management Program to adequately assess, measure, monitor and report fraud risk across all Lines of Business and products within Equitable Bank.

Train and educate first line on fraud risk and controls required to identify, measure and report fraud risk.

Fiduciary Risk

Ensure trust businesses have appropriate controls in place to ensure effective risk mgmt. and adherence to all EQB policies and expectations related to Non‑Financial risks.

Business Advisory

Provide operational risk advice to business units to enhance the management of operational risk, including advising on risk mitigation strategies.

Influence peers to collaborate in an integrated risk management approach.

Risk Reporting

Review and provide monthly/quarterly/ad‑hoc risk reporting on results of programs for Senior Management, and the Board as required.

Let’s Talk About You!

Successful completion of a university degree with Finance or Accounting major complemented with 5‑7 years of progressive risk management, audit experience, or first line risk management experience (OSFI 1B LOD), preferably in the financial industry.

Experience in 2nd line Fraud Risk and Operational Risk management.

A professional internal audit designation (CIA, CIDA) and/or a professional accounting designation (CA, CMA, CGA); or an equivalent combination…